Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 53.2% | 50.7% | 48.5% | ||||
| 42.1% |
| 39.1% |
| 48.3% |
| 45% |
| EBITDA margin % | 30.8% | 18.4% | 16.1% | 19.6% | 11.7% | 2.9% | 12.3% | 10.1% |
| EBIT margin % | 28.6% | 15.2% | 12.5% | 17% | 8.8% | -0.9% | 8.9% | 6.7% |
| PAT margin % | 18.9% | 13.3% | 9.4% | 13.6% | 7.2% | 1.8% | 8.5% | 6.7% |
| Working capital | ||||||||
| Receivable days | 70 | 78 | 84 | 62 | 52 | 82 | 81 | 87 |
| Inventory days | 43 | 86 | 68 | 99 | 76 | 77 | 68 | 78 |
| Payable days | 0 | 7 | 11 | 9 | 62 | 134 | 99 | 91 |
| NWC days | 113 | 157 | 141 | 152 | 67 | 24 | 50 | 74 |
| Leverage | ||||||||
| Current ratio | 2.69 | 1.81 | 2.04 | 2.34 | 3.76 | 2.71 | 3.14 | 2.46 |
| Debt to EBITDA | 0.03 | 0.16 | 0.05 | 0.02 | 0.01 | 0 | 0 | 0 |
| Debt to equity | 0.01 | 0.04 | 0.01 | 0.01 | 0 | 0 | 0 | 0 |
| Interest coverage | 96.3 | 45 | 46.7 | 111.5 | 48.9 | 12 | 47.8 | 39.5 |
| Asset turnover | 1.03 | 0.85 | 0.79 | 0.96 | 0.89 | 0.59 | 0.67 | 0.7 |
| Return ratios | ||||||||
| Return on assets % | 19.5% | 11.4% | 7.4% | 13% | 6.4% | 1.1% | 5.7% | 4.7% |
| Return on capital employed % | 40% | 17.1% | 13.9% | 23.4% | 10% | 1.9% | 9.1% | 7.4% |
| Return on equity % | 25.8% | 15.5% | 9.8% | 17.2% | 7.9% | 1.4% | 7.1% | 6% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.